You can find out about the procedure for purchasing real estate in the Czech Republic here.
Often, developers compensate the real estate agency for their fees and, thus, there is no need to pay a commission to the real estate agency. Also, new buildings are not subject to real estate purchase tax, but are subject to VAT. VAT in the Czech Republic, as a rule, is already included in the price of the property.
You can learn more about real estate taxes in the Czech Republic here.
For secondary housing, the tax on the purchase of real estate in the Czech Republic is 4% and is paid by the buyer within 3 months from the date of the transaction.
In addition, the buyer must take into account the following costs when purchasing real estate in the Czech Republic:
- notary services – from 4 euros per signature, on average for the entire purchase and sale process, the cost of a notary will be about 50 euros;
- bank services for deposit storage – from 100 to 1000 euros, depending on the amount;
- translation services (if necessary) – from 300 euros.
- payment of the state fee for registering the transfer of ownership – up to 40 euros, depending on the region and type of property.
If real estate is purchased with a mortgage, the bank will most likely require an official appraisal of the property. The cost of such services ranges from 150 to 200 euros. Also, when applying for a mortgage, the bank may charge a special mortgage fee – up to 1.5% of the value of the property.